The Karnataka Chief Minister H D Kumaraswamy led Karnataka government has decided to cut off all the eligible farm loans taken from nationalized banks.
The order was issued by the state government on Wednesday.
The farmers had alleged that the money deposited by Kumaraswamy was did only for the sake of winning votes and withdraw it after losing in the LS election.,
The government order came into action when the money credited into the bank accounts of 13,988 farmers was withdrawn by banks after farmers were found ineligible for loans during an audit.
The Loan waiver was announced in August 2018 and the govt had decided to pay the amount in four installments.
Now in this condition the government has to pay 4617 crore at one time to complete process in the commercial banks.
Govt has already released Rs 3,930 crore of the estimated total of Rs 8,550 crore.
The JD(s) congress government unveiled the farm loan waiver in August 2018
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